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Monetary Shocks and Inflation Dynamics in the New Keynesian Model

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  • Dellas, Harris

Abstract

This paper demonstrates that imperfect information and gradual learning is a plausible and promising mechanism for generating realistic inflation and output dynamics in the standard new Keynesian model.

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File URL: http://dx.doi.org/10.1353/mcb.2006.0030
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Bibliographic Info

Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

Volume (Year): 38 (2006)
Issue (Month): 2 (March)
Pages: 543-551

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Handle: RePEc:mcb:jmoncb:v:38:y:2006:i:2:p:543-551

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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Citations

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Cited by:
  1. Fabrice Collard & Harris Dellas, 2009. "Monetary Misperceptions, Output and Inflation Dynamics," School of Economics Working Papers 2009-23, University of Adelaide, School of Economics.
  2. Fabrice Collard & Harris Dellas & Frank Smets, 2009. "Imperfect Information and the Business Cycle," School of Economics Working Papers 2009-15, University of Adelaide, School of Economics.
  3. Givens, Gregory & Salemi, Michael, 2012. "Inferring monetary policy objectives with a partially observed state," MPRA Paper 39353, University Library of Munich, Germany.
  4. Tsuruga, Takayuki, 2007. "The hump-shaped behavior of inflation and a dynamic externality," European Economic Review, Elsevier, vol. 51(5), pages 1107-1125, July.
  5. Stephen G. Hall & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2008. "The New Keynesian Phillips Curve and Lagged Inflation: A Case of Spurious Correlation?," Discussion Papers in Economics 08/26, Department of Economics, University of Leicester.
  6. Grishchenko, Olesya V., 2011. "Asset pricing in the production economy subject to monetary shocks," Journal of Economics and Business, Elsevier, vol. 63(3), pages 187-216, May.
  7. Hondroyiannis, George & Swamy, P.A.V.B. & Tavlas, George S., 2008. "Inflation dynamics in the euro area and in new EU members: Implications for monetary policy," Economic Modelling, Elsevier, vol. 25(6), pages 1116-1127, November.
  8. Wenli Cheng & Simon D. Angus, 2012. "The Cantillon Effect of Money Injection through Deficit Spending," Development Research Unit Working Paper Series 12-12, Monash University, Department of Economics.

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